{"id":3428,"date":"2013-05-13T14:35:25","date_gmt":"2013-05-13T14:35:25","guid":{"rendered":"https:\/\/rehs.com\/blog\/?p=3428"},"modified":"2024-02-01T03:02:00","modified_gmt":"2024-02-01T08:02:00","slug":"art-proves-attractive-refuge-for-money-launderers","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2013\/05\/art-proves-attractive-refuge-for-money-launderers\/","title":{"rendered":"Art Proves Attractive Refuge For Money Launderers"},"content":{"rendered":"<div style=\"width: 181px\" class=\"wp-caption alignleft\"><a href=\"http:\/\/www.nytimes.com\/2013\/05\/13\/arts\/design\/art-proves-attractive-refuge-for-money-launderers.html?pagewanted=1&amp;_r=0&amp;adxnnl=1&amp;ref=todayspaper&amp;adxnnlx=1368453870-oIXI6eCPi0eKjYN55BcTgA\"><img decoding=\"async\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2013\/05\/LAUNDER-3-articleInline.jpg\" alt=\"abstract painting\" width=\"171\" height=\"176\" \/><\/a><p class=\"wp-caption-text\">Basquiat<\/p><\/div>\n<p>The checks and balances of the art market make it challenging to determine the difference between a trustworthy buyer and a laundering fraud.\u00a0 Unlike real estate titles and deeds which require names and mortgage brokers, stockbrokers, casinos, and banks which must report suspicious financial activity, art transactions have very little limitations.\u00a0 Buyers and sellers can be labeled as \u201cprivate collectors\u201d making it almost impossible for officials to track down the whereabouts of such piece.\u00a0 Recently, a crate passing through Kennedy International Airport from London had a $100 value to the artwork inside.\u00a0 After a federal investigation took place, the artwork inside was actually a Jean-Michel Basquait painting worth $8 million.\u00a0 The investigation led back to Edemar Cid Ferreira, a former Brazilian banker who has been illegally using his 12,000 piece art collection to hide illicit profits and illegal transfers of assets around the world.<\/p>\n<p>Source:\u00a0<a href=\"http:\/\/www.nytimes.com\/2013\/05\/13\/arts\/design\/art-proves-attractive-refuge-for-money-launderers.html?pagewanted=1&amp;_r=0&amp;adxnnl=1&amp;ref=todayspaper&amp;adxnnlx=1368453870-oIXI6eCPi0eKjYN55BcTgA\" target=\"_blank\" rel=\"noopener\">Art Proves Attractive Refuge for Money Launderers<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The checks and balances of the art market make it challenging to determine the difference between a trustworthy buyer and a laundering fraud.\u00a0 Unlike real estate titles and deeds which require names and mortgage brokers, stockbrokers, casinos, and banks which &hellip; <a href=\"https:\/\/rehs.com\/eng\/2013\/05\/art-proves-attractive-refuge-for-money-launderers\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":4,"featured_media":46667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[717,11,32],"class_list":["post-3428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-money-laundering","tag-rehs-contemporary-news","tag-the-dark-side"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Art Proves Attractive Refuge For Money Launderers<\/title>\n<meta name=\"description\" content=\"The checks and balances of the art market make it challenging to determine the difference between a trustworthy buyer and a laundering fraud.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2013\/05\/art-proves-attractive-refuge-for-money-launderers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Art Proves Attractive Refuge For Money Launderers\" \/>\n<meta property=\"og:description\" content=\"The checks and balances of the art market make it challenging to determine the difference between a trustworthy buyer and a laundering fraud.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2013\/05\/art-proves-attractive-refuge-for-money-launderers\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-13T14:35:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-01T08:02:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2013\/05\/LAUNDER-3-articleInline-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"190\" \/>\n\t<meta property=\"og:image:height\" content=\"195\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alyssa Rehs\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alyssa Rehs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2013\\\/05\\\/art-proves-attractive-refuge-for-money-launderers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2013\\\/05\\\/art-proves-attractive-refuge-for-money-launderers\\\/\"},\"author\":{\"name\":\"Alyssa Rehs\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#\\\/schema\\\/person\\\/7d5c885d99ebbdc550c692bb4595262b\"},\"headline\":\"Art Proves Attractive Refuge For Money Launderers\",\"datePublished\":\"2013-05-13T14:35:25+00:00\",\"dateModified\":\"2024-02-01T08:02:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2013\\\/05\\\/art-proves-attractive-refuge-for-money-launderers\\\/\"},\"wordCount\":164,\"publisher\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2013\\\/05\\\/art-proves-attractive-refuge-for-money-launderers\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rehs.com\\\/eng\\\/wp-content\\\/uploads\\\/2013\\\/05\\\/LAUNDER-3-articleInline-1.jpg\",\"keywords\":[\"Money Laundering\",\"Rehs Contemporary - Art World News\",\"The Dark Side of the Art World\"],\"articleSection\":[\"Rehs 19th &amp; 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